MakeMyTrip Limited $MMYT Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 34.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 159,396 shares of the technology company’s stock after selling 83,211 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MakeMyTrip were worth $14,919,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MakeMyTrip by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock worth $1,642,000 after purchasing an additional 1,721 shares during the period. Farther Finance Advisors LLC acquired a new position in MakeMyTrip in the 2nd quarter valued at $50,000. Signaturefd LLC raised its position in MakeMyTrip by 23.3% during the 2nd quarter. Signaturefd LLC now owns 1,147 shares of the technology company’s stock worth $112,000 after buying an additional 217 shares during the last quarter. J. Safra Sarasin Holding AG acquired a new stake in shares of MakeMyTrip in the 2nd quarter worth $661,000. Finally, Matthews International Capital Management LLC boosted its holdings in shares of MakeMyTrip by 35.2% in the second quarter. Matthews International Capital Management LLC now owns 183,815 shares of the technology company’s stock valued at $18,018,000 after acquiring an additional 47,835 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MMYT. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Citigroup dropped their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Finally, Bank of America dropped their price objective on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, December 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Price Performance

Shares of NASDAQ:MMYT opened at $62.38 on Friday. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 129.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.66. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The business’s 50 day simple moving average is $76.19 and its 200-day simple moving average is $86.76. MakeMyTrip Limited has a 12 month low of $60.22 and a 12 month high of $120.72.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. As a group, equities analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.